This represents about 123,300 newly retired people per
month, according to a recent LIMRA SRI analysis. Put another way, almost the
same number of people will retire per month through 2025 as the entire population
of Hartford, Connecticut.

In the “2014
Fact Book on Retirement Income,”
LIMRA researchers suggest more than half of pre-retirees age 55 to 70 are not
confident that they will be able to achieve the lifestyle they want in
retirement. Additional LIMRA SRI research reveals fewer than four in 10
pre-retirees currently work with an adviser, yet those who do are more likely
to have completed basic retirement planning and are significantly more
confident about their retirement security.

In fact, LIMRA says 79% of pre-retirees who work with an
adviser say they are well prepared or moderately prepared for retirement. Among
those who do not work with an adviser, 34% say they are poorly prepared, and 16%
say they are not prepared at all.

LIMRA says advisers can help clients arrange effectively for
their life after work by creating a lifetime retirement income plan—something that
is ranked as a top adviser-deliverable for 51% of pre- and near-retirees polled
by LIMRA.

About half of pre-retirees also put a high value on advice and
support that minimizes the risk of running out of money in retirement. Additionally,
more than 80% of advisers and pre-retirees agree that a written plan is the
best way to achieve goals for a secure retirement, LIMRA says.